Australian authorities seize crypto worth $1 million in drug bust

The Western Australian Police Force has recently confiscated around AUD1.5 million (almost $1 million) worth digital currency in a drug bust. This is reportedly the largest crypto amount seized by the authorities. The Australian Border Force (ABF) announced that the authorities have arrested two individuals – a 27-year-old man and a 25-year-old woman – in the drug bust. They were allegedly trying to import MDMA.  

The drugs were exposed when the ABF officers were screening international mail at the Perth Gateway Facility. The accused had hidden the drugs in a children’s toy painting kit. The authorities located 27.5g of MDMA tablets and 27.5g of MDMA powder from the package that was imported from the United Kingdom, which was bound for an address in the Perth metropolitan area. The authorities also confiscated an electronic device that reportedly stored local fiat in cryptocurrency worth AUD1.5 million.

Detective Senior Sergeant Paul Matthews, the officer in charge of the drug and firearm squad, commented on the drug bust. He said:

While WA Police Force has seized millions of dollars’ worth of physical property and bank account assets in the course of several drug investigations, particularly those involving established criminal networks, the identification and freezing of over $1.5million of cryptocurrency in these circumstances highlights the current digital environment in which law enforcement agencies must operate.

This is reportedly the highest value seizure made by the Western Australia Police Force. Matthews further stated:

Using the latest technologies and digital forensic techniques we thoroughly investigate all possible methods of holding financial assets, and will target all forms of wealth that may be derived from the illicit drug trade.

The accused have been charged with two counts of possession of drugs with the intent of selling and supply.